The British pound has slipped back under the 1.2500 support level against the US dollar after bulls failed to attract buying interest above the 1.2510 resistance level. GBPUSD bears are now stalking the 1.2480 support, with downside back towards the 1.2440 level now in focus. Overall, sustained weakness below the 1.2480 support level should be considered extremely negative for the GBPUSD pair.
The GBPUSD pair is only bullish while trading above the 1.2510 level, key resistance is located at the 1.2530 and 1.2560 levels.
If the GBPUSD pair trades below the 1.2510 level, key support is found at the 1.2480 and 1.2440 levels.